The clarion. [volume] (Jackson, Miss.) 1883-1888, 1887-08-10
The State Debt.

The State Debt.
As stated in our last issue, the report
of the Treasurer shows the State debt on
the first day of January, 1886, to have
been as follows:
Total 17s, 693 81
FAyaoie 1886 sS
We then called attention to the omis-
sion to credit the payable debt with
x,460.70, cash in the treasury. We
have since discovered that the debit side |
Of the Treasures account should have
been charged with So, 1921, beirg bal
ance of Yazoo Mississippi Delta Levee
tax, which had been paid into the treas
ury and used as part of the general tax
fund. If this sum had been added to
the total debt Of the State, and the cash
in the treasury subtracted from the pay.
| able debt, the account would have stood
| thus:
Total Isl ,os5 81
Payable sl5,075 81
The payable debt January l, 1882
| $685., Held, less the Agricultural Col
lege bonds 1927 10000, now deducted
in the reports, was s95, 265.11; and it
has been increased since then, to the
first day of January, 1886, 1922, 813.45,
instead Of 500, 44L14, as stated by MS
last week.
The reports of the Treasurer for 1886,
and to July !, 1887, show $l24,830.49
disbursed on account of Yazoo- Missis-
sippi Delta Levee tax, and only $62,-
97885 received. The difference between
these two amounts 1861, 842 64) would
seem to show the amount due that fund
by the State, January ], 1886; but the
Treasures trial balance found in the
report for the year ending December 81 :,
1885, shows the balance to be as stated
above-$52, 3723l.
Paying back this money, $50, 372.31 or
| 500, 987 IS, whichever it may be, ac-
counts in part for the increase of the
debt between the first day of January,
1856, and the first day of July, 1887,
which we will now consider.
The subjoined tables are made up
from the monthly statements published
by the Treasurer under the Act of 1886,
and embrace the transactions at the
treasury from the first day of January,
1886, to the first day of July, 1887. As
we have been compelled to open debit
and credit with several of the heads of
account, and search through the receipts
and disbursements for eighteen months
for the items belonging 10 each, it is
probable that we have made some mis-
takes; but we believe the result to be
substantially correct. We could not
, speak with greater confidence unless we
had posted all the items just as they APP
! pear on the books at the treasury, and
/, this we have not had time to do. We
would feel more hesitancy in publishing
what may not be absolutely correct in
: formation, but for the knowledge that
all mistakes can be easily corrected
should they be pointed out by those hav.
ing better facilities for getting informa
ton, with less labor.
To ascertain the amount of warrants
outstanding, we have added to the
amount outstanding January /, 1886
those issued since, and have subtracted
those that have Teen paid. If we are
not mistaken in the amount disbursed
for which no warrants were issued $50,
556. 90), this table ought to be accurate
To the cash in the treasury Jan. 1, 1886
we have added the receipts, and deduct
ed the disbursements to get the cash OF
hand July l, 1887.
The total Indebtedness is shown to
have increased between January l, 1886
and July /, 1887, 1866, 923.71, and the
Statement of differences" shows how
this has been brought about.
The payable debt has increased during
the same time, 1865, 75l.79.
The difference between the increase
in the total indebtedness ($366, 923.71
and the payable debt 1866, 751.79), j.
the sum of $l,17L92, added to the
Chickasaw School Fund. The other
permanent funds remain unchanged.
The difference between the payable
debt less cash in the treasury January
1886, and The payable debt less cash in
the treasury July /, 1887, is 1929,
1919.
The payable debt less cash in the
treasury January l, 1882 $685., 415,11)
less the Agricultural College bonds
(s227, 1907 was 95,26511. 1t is now
1895, 445. 42--an increase of 5000, $780, 81.
There is now balance in the treas
ury of SAB, 1908, but if the receipts for
the last six mouths of 1887, available for
the payment of current expenses, do not
exceed the receipts for the same period
, in 1886, that balance will have been ex-
pended before the Legislature meets,
| and there will be a considerable deficit
in the treasury. This on the assumption
that the expenditures will be greater
than in 1886, and that no more bonds
will be sold.